Contractors, Brokers, Buyers, Sellers, Lenders, Partners – all the wonderful people you get to work with as a real estate investor. Most of us got into real estate as a means for greater independence; however, you cannot make money without interacting with people. You need people and they need you. If you want to be successful, you’ll have to learn how to work well with everyone involved in your project. Here are some tips for getting along:
- Have integrity and you will know how to recognize it in others. You’ll want to work with these people over and over again.
- See things from the other’s point of view. Respect that they have their own set of priorities and try to understand where they are coming from. Try to do right by them as well as yourself.
- Give others the benefit of the doubt. Don’t jump to conclusions before you get the full story. Remember that there are always multiple sides to the story.
- Mistakes are inevitable. Judge the person on how they handle their mistakes. If they take responsibility and are willing to make amends, let them do so without holding a grudge. Some of the best relationships come out of second chances.
- Cut ties when necessary, but don’t burn any bridges. Business relationships don’t always work out. Keep your parting cordial and try someone new. Follow tip #1 and you’ll eventually find a good fit.
It all boils down to the Golden Rule: Do to others as you would have them do to you.
For your reading pleasure
Many of you are already familiar with the short-term vacation rental model, but what about renting out just one room in your house or apartment? I’ve met people who love to travel this way, even renting a room in a small apartment while the “landlord” is present. It’s like staying with friends…that you just met. It’s not for everyone, but it’s not a bad way to make a few extra dollars and it even comes with tax deductions if you do it right. Got space? Rent it out!
There is no shortage of events this Memorial Day weekend. Our family likes to bike over to the Armed Forces Tribute Garden near our house and lay wild flowers that we collected along the path. We are blessed that so many men and women are willing to fight and die to protect our freedoms. We are forever grateful!
See you soon,
QUOTE OF THE WEEK:
Read the full newsletter here: 2017.05.26 – Friday Flyer – Playing Nice With Others